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Consolidated Statements Of Operations (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest and dividend income:        
Loans, including fees $ 11,358,129 $ 14,790,220 $ 23,317,221 $ 29,532,956
Investment securities:        
Taxable 88,133 48,733 157,035 87,304
Tax exempt   6,976 990 14,411
Dividend income, equity securities, restricted 42,338 41,211 97,906 80,235
Other interest income 58,893 105,638 120,476 216,108
Total interest and dividend income 11,547,493 14,992,778 23,693,628 29,931,014
Interest expense:        
Deposits 4,792,764 6,503,210 10,061,052 13,317,527
Short-term borrowings 14,137 49,339 40,855 84,455
Long-term debt 482,623 477,785 959,941 955,104
Trust preferred capital notes 97,729 337,013 192,695 665,073
Total interest expense 5,387,253 7,367,347 11,254,543 15,022,159
Net interest income 6,160,240 7,625,431 12,439,085 14,908,855
Provision for loan losses 22,505,601 5,009,144 27,504,801 10,007,195
Net interest income (loss) after provision for loan losses (16,345,361) 2,616,287 (15,065,716) 4,901,660
Noninterest income:        
Service charges on deposit accounts 212,789 268,634 430,498 549,809
Other service charges and fees 253,605 239,115 469,780 449,704
Mortgage brokerage income 22,185 108,746 70,549 202,201
Title insurance income 11,998 39,982 24,318 72,671
Investment service income 18,842 54,657 25,322 228,676
Losses on other real estate owned, net (1,375,530) (658,924) (2,222,301) (1,014,794)
Other 104,961 121,284 183,274 296,927
Total noninterest income (751,150) 173,494 (1,018,560) 785,194
Noninterest expense:        
Salaries and employee benefits 2,500,852 2,506,723 5,041,607 3,048,940
Net occupancy expense 980,129 961,353 1,979,762 1,976,406
Furniture and equipment expense 461,195 514,532 922,903 1,018,597
Legal and other professional fees 1,725,982 295,594 2,568,744 529,226
FDIC insurance 1,013,427 725,490 2,053,751 1,413,834
Other real estate owned expense 758,363 356,773 1,219,847 614,925
Other operating expense 1,945,472 1,302,354 3,357,889 2,372,248
Total noninterest expense 9,385,420 6,662,819 17,144,503 10,974,176
Loss before income taxes (26,481,931) (3,873,038) (33,228,779) (5,287,322)
Income tax benefit (264,124) (1,357,920) (261,418) (1,854,863)
Net loss (26,217,807) (2,515,118) (32,967,361) (3,432,459)
Less: Net income attributable to noncontrolling interests 2,407 28,396 7,652 33,847
Net loss attributable to the Company $ (26,220,214) $ (2,543,514) $ (32,975,013) $ (3,466,306)
Loss per share attributable to the Company's common stockholders:        
Basic $ (3.80) $ (0.37) $ (4.78) $ (0.50)
Diluted $ (3.80) $ (0.37) $ (4.78) $ (0.50)
Basic weighted average shares outstanding 6,897,082 6,889,729 6,897,082 6,889,267
Diluted weighted average shares outstanding 6,897,082 6,889,729 6,987,082 6,889,267